He central bank anticipates that its reserves will remain around the figure of $5.1 billionas long as the country manages to agree to an extension of the disbursements planned by the el International Monetary Fund. This central question is currently being discussed by the Minister of Economy, Sergio Massain the city of Washington.
Sources from that portfolio reported that official calculations indicate that, in the event of an agreement with the IMF, between US$3,400 and US$3,500 would remain available million net to strengthen reserves.
The arrival of these funds, combined with the US$1.730 million that the Central Bank has managed to accumulate in recent weeks through the new measures adopted in relation to the dollar and imports, would take the reserves to $5.1 billionaccording to the informants.
On the other hand, as a result of the negotiations led by Massait is expected that in November other US$2.7 billionin line with the pending maturities with the IMF.
Thus, of the first total IMF disbursement for US$7.5 billionthey would be destined $2.5 billion to cover loans contracted with China. Of that sum, approximately 1,300 million would go to the return of the “swapwith that country.
Likewise, others $500 million will be used to repay the loan granted by Qatarwhile US$1,000 million will go to the Development Bank of Latin America (CAF).
Both China -through the “swap” and loans- and Qatar -through a loan- and the CAF, they had financed Argentina to meet the scheduled maturities within the framework of the debt restructuring with the IMF in June and July of last year, both for US$2.7 billion each.
“These were alternatives that Massa’s economic team turned to, which were also not in the IMF staff calculationsso they were surprised,” a source from the entourage that accompanies Massa in the United States told Télam.
Source: Ambito
